Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Manchester Financial Inc.

Manchester Financial Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,845 shares of the information services provider’s stock after selling 286 shares during the period. Manchester Financial Inc.’s holdings in Alphabet were worth $539,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GOOGL. Mcrae Capital Management Inc. lifted its stake in shares of Alphabet by 3.0% in the 4th quarter. Mcrae Capital Management Inc. now owns 27,650 shares of the information services provider’s stock worth $5,234,000 after acquiring an additional 810 shares during the period. IMS Capital Management lifted its stake in shares of Alphabet by 2.4% in the 4th quarter. IMS Capital Management now owns 14,034 shares of the information services provider’s stock worth $2,657,000 after acquiring an additional 326 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Alphabet by 1.5% in the 4th quarter. Asset Management One Co. Ltd. now owns 2,457,789 shares of the information services provider’s stock worth $473,713,000 after acquiring an additional 35,798 shares during the period. PayPay Securities Corp lifted its stake in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the period. Finally, Sunburst Financial Group LLC increased its holdings in shares of Alphabet by 3.0% in the 4th quarter. Sunburst Financial Group LLC now owns 7,071 shares of the information services provider’s stock valued at $1,339,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOGL. Wedbush increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Cantor Fitzgerald decreased their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Citigroup decreased their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, Truist Financial lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,299 shares of company stock worth $25,055,751. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $179.25 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $192.12 and a 200 day simple moving average of $176.05. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a market capitalization of $2.19 trillion, a P/E ratio of 22.27, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is presently 9.94%.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.